The round, led by new investor Tiger Global, raised the San Francisco-based firm’s valuation to US$2 billion. Other participants in the round include existing backers Brookfield Technology Partners, 8VC, Activant, GLP and Coatue. Deliverr’s CEO said in a statement the funding will be used to speed up operations and expand the company’s next-day fulfillment services for e-commerce merchants. (The Logic)
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The round, led by new investor Tiger Global, raised the San Francisco-based firm’s valuation to US$2 billion. Other participants in the round include existing backers Brookfield Technology Partners, 8VC, Activant, GLP and Coatue. Deliverr’s CEO said in a statement the funding will be used to speed up operations and expand the company’s next-day fulfillment services for e-commerce merchants. (The Logic)
Talking point: As demand for next-day and two-day deliveries for online purchases rises, the company offers fulfillment services to merchants on e-commerce platforms including Shopify, Walmart, Amazon and more. “The most effective way to address supply-chain congestion is to move inventory closer to the end customer,” said Harish Abbott, Deliverr co-founder and CEO, in a release. Deliverr’s lead investor, Tiger Global, as my colleague Murad pointed out, has made a series of rapid and large investments in private tech companies recently, employing a strategy that’s disrupting Silicon Valley venture capitalists.
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